CROWN CASTLE INC. acquires FiberNet (FPL FiberNet Holdings, LLC)

CROWN CASTLE INC. acquired FiberNet (FPL FiberNet Holdings, LLC) for approximately $1.5 billion, a transaction completed in January 2017, structured as all cash.

FiberNet (FPL FiberNet Holdings, LLC) operates in Fiber / small cells, is based in Florida and Texas; ~11,500 route miles of fiber. Crown Castle acquired FPL FiberNet Holdings, LLC and certain other subsidiaries of NextEra Energy, Inc. (collectively, FiberNet) for approximately $1.5 billion in cash. FiberNet is a fiber services provider in Florida and Texas that owned or had rights to approximately 11,500 route miles of fiber installed and under construction.

Expands Crown Castle's fiber assets supporting small cell networks; one of three fiber platforms (with NextG and Sunesys) underpinning the small cells segment.

Dense metro fiber in two large states, complementary to Crown Castle's small-cell strategy. Crown Castle fiber / small cells segment

On November 1, 2016, we announced a definitive agreement to acquire FPL FiberNet Holdings, LLC and certain other subsidiaries of NextEra Energy, Inc. (collectively, "FiberNet") for approximately $1.5 billion in cash, subject to certain limited adjustments. FiberNet is a fiber services provider in Florida and Texas that owns or has rights to approximately 11,500 route miles of fiber installed and under construction.Crown Castle FY2016 10-K, Business / Subsequent Events disclosure

Advisory firms were not disclosed for this transaction.

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